The Bank Slate


Federal Reserve debuts master account database

The Federal Reserve on Friday released a long-awaited database of financial institutions seeking access to the Fed’s payments system.

The database revealed 44 requests, with 26 listed as not being federally insured for deposits. Eleven requests are from entities in Puerto Rico, while four are from Wyoming.

The Fed also released a list of financial institutions that have master accounts, which provides access to services such as the automated clearing house (ACH) and Fedwire.

The data will be updated quarterly.

Searches can be filtered by name, location, application date and source of deposit insurance, among other things. More than 400 entities with master accounts are not federally insured.

Leave a Reply

Your email address will not be published. Required fields are marked *